Rand Paul

LOUISVILLE — Republican Rand Paul, son of a former presidential candidate, took a big step Thursday toward a possible U.S. Senate bid that would seek to tap into his father’s political network.

Paul, who shares a conservative kinship with his father, U.S. Rep. Ron Paul of Texas, said he’s forming an exploratory committee, allowing him to raise and spend campaign money before he officially enters the race.

The 46-year-old Bowling Green eye surgeon has never held political office, but he was able to hone his skills on the stump while making dozens of appearances for his father’s presidential campaign last year.

Even while moving closer to his own bid, Paul praised Sen. Jim Bunning – whose seat he’s eying – and said he was not looking to challenge his fellow Republican if the two-term senator stays in the race.

“My intention at this point is not to run against Sen. Bunning,” Paul said in a phone interview with The Associated Press. “I’ve had nothing but good things to say about him voting against the bank bailout. I still have nothing but good things to say about Sen. Bunning.”

A Bunning spokesman said the senator had no comment on Paul’s decision to form the committee.

Bunning won both his Senate races by narrow margins but has posted lackluster fundraising numbers that has made Republicans nervous. Bunning, a Hall of Fame pitcher, said this week he was encouraged by the response he got at a recent Kentucky Republican gathering and said he has a series of campaign fundraisers scheduled.

While insisting he’s in the race, Bunning encouraged Secretary of State Trey Grayson to form his own exploratory committee. Paul said that gave “a green light to anybody” to do the same, as long as they don’t intend to run against the incumbent. Grayson, seen as a rising GOP star, formed the exploratory committee but has said he won’t run for the Senate seat unless Bunning retires.

Bunning’s signal to Grayson is undermining the senator’s insistence he’s in the race to stay, Paul said.

“I don’t understand if you really are going to stay in the race, how you could be encouraging others to form (exploratory) committees and compete with you for money,” Paul said.

Paul said he wants to be prepared in case the race for the GOP Senate nomination becomes wide open.

“I think there needs to be a candidate that represents the conservative wing of the party,” he said.

Paul said his goal is to raise about $2 million in campaign cash if he enters the GOP primary, and hopes to tap into his father’s national fundraising network. His father finished third in Kentucky’s Republican primary behind John McCain and Mike Huckabee.

Paul said he would bring a brand of fiscal conservatism badly needed amid a mushrooming budget deficit.

“We’re drowning in a sea of debt,” he said, adding that if someone doesn’t start voting against more government spending, the country and its currency could be ruined.

Paul said he plans to continue his medical practice. And the father of three has another ongoing commitment – coaching his 10-year-old son’s baseball team.

“I hope my political career is better than my coaching career,” he said. “We’re 0-5 right now.”

Two major Democrats, Lt. Gov. Daniel Mongiardo and Attorney General Jack Conway, already have entered the Senate race.